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Budget 2017 Home Page Budget Economic and Fiscal Update 2017

Time Series of Fiscal and Economic Indicators

Fiscal Indicators
June years 2007
 Actual
2008
 Actual
2009
Actual
2010
Actual
2011
Actual
2012
Actual
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Forecast
2018
Forecast
2019
Forecast
2020
Forecast
2021
Forecast
$millions    

Revenue and expenses

   
Core Crown tax revenue 53,477 56,747 54,681 50,744 51,557 55,081 58,651 61,563 66,636 70,445 74,598 77,536 81,046 85,875 89,939
Core Crown revenue 57,971 61,575 59,191 55,757 57,199 60,428 63,805 67,093 72,213 76,121 80,771 83,760 87,486 92,506 96,803
Core Crown expenses 53,764 56,753 63,711 63,554 70,099 68,939 69,962 71,174 72,363 73,929 77,464 80,486 83,466 86,234 89,223

Surpluses

   
Total Crown OBEGAL 5,860 5,637 (3,893) (6,315) (18,396) (9,240) (4,414) (2,802) 414 1,831 1,621 2,858 4,051 6,085 7,168
Total Crown operating balance 8,023 2,384 (10,505) (4,509) (13,360) (14,897) 6,925 2,939 5,771 (5,369) 9,438 5,496 6,996 9,451 10,824

Cash position

   
Core Crown residual cash 2,793 2,057 (8,639) (9,000) (13,343) (10,644) (5,742) (4,109) (1,827) (1,322) 71 (1,789) (1,550) 1,703 1,449

Debt

   
Gross debt1 30,647 31,390 43,356 53,591 72,420 79,635 77,984 81,956 86,125 86,928 88,645 84,078 84,494 83,915 78,886
Gross debt incl RB settlement cash and bank bills 36,805 37,745 50,973 58,891 77,290 84,168 84,286 88,468 93,156 93,283 95,224 90,657 91,073 90,494 85,465
Net core Crown debt (incl NZS Fund)2 1,620 (2,676) 5,633 12,549 23,969 33,475 34,428 34,174 30,862 32,102 28,449 28,625 27,852 23,682 17,443
Net core Crown debt2 13,196 10,258 17,119 26,738 40,128 50,671 55,835 59,931 60,631 61,880 62,277 64,111 65,744 64,154 62,824

Net worth

   
Total Crown net worth 96,827 105,514 99,515 94,988 80,887 59,780 70,011 80,697 98,236 95,521 105,923 111,442 118,390 127,829 138,671
Total net worth attributable to the Crown 96,531 105,132 99,068 94,586 80,579 59,348 68,071 75,486 86,454 89,366 100,044 105,566 112,602 122,102 132,982
Nominal expenditure GDP (revised actuals) 175,456 189,001 189,500 196,736 205,817 215,109 218,715 236,177 242,980 253,089 268,877 281,801 297,042 311,862 324,898
% GDP          

Revenue and expenses

   
Core Crown tax revenue 30.5 30.0 28.9 25.8 25.0 25.6 26.8 26.1 27.4 27.8 27.7 27.5 27.3 27.5 27.7
Core Crown revenue 33.0 32.6 31.2 28.3 27.8 28.1 29.2 28.4 29.7 30.1 30.0 29.7 29.5 29.7 29.8
Core Crown expenses 30.6 30.0 33.6 32.3 34.1 32.0 32.0 30.1 29.8 29.2 28.8 28.6 28.1 27.7 27.5

Surpluses

   
Total Crown OBEGAL 3.3 3.0 (2.1) (3.2) (8.9) (4.3) (2.0) (1.2) 0.2 0.7 0.6 1.0 1.4 2.0 2.2
Total Crown operating balance 4.6 1.3 (5.5) (2.3) (6.5) (6.9) 3.2 1.2 2.4 (2.1) 3.5 2.0 2.4 3.0 3.3

Cash position

   
Core Crown residual cash 1.6 1.1 (4.6) (4.6) (6.5) (4.9) (2.6) (1.7) (0.8) (0.5) 0.0 (0.6) (0.5) 0.5 0.4

Debt

   
Gross debt1 17.5 16.6 22.9 27.2 35.2 37.0 35.7 34.7 35.4 34.3 33.0 29.8 28.4 26.9 24.3
Gross debt incl RB settlement cash and bank bills 21.0 20.0 26.9 29.9 37.6 39.1 38.5 37.5 38.3 36.9 35.4 32.2 30.7 29.0 26.3
Net core Crown debt (incl NZS Fund)2 0.9 (1.4) 3.0 6.4 11.6 15.6 15.7 14.5 12.7 12.7 10.6 10.2 9.4 7.6 5.4
Net core Crown debt2 7.5 5.4 9.0 13.6 19.5 23.6 25.5 25.4 25.0 24.4 23.2 22.8 22.1 20.6 19.3

Net worth

   
Total Crown net worth 55.2 55.8 52.5 48.3 39.3 27.8 32.0 34.2 40.4 37.7 39.4 39.5 39.9 41.0 42.7
Total net worth attributable to the Crown 55.0 55.6 52.3 48.1 39.2 27.6 31.1 32.0 35.6 35.3 37.2 37.5 37.9 39.2 40.9
  1. Excludes Reserve Bank settlement cash and bank bills.
  2. Excludes advances.
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